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  Business   Economy  04 Apr 2017  RBI gives nod to printing of Rs 200 notes: report

RBI gives nod to printing of Rs 200 notes: report

THE ASIAN AGE WITH AGENCY INPUTS
Published : Apr 4, 2017, 11:18 am IST
Updated : Apr 4, 2017, 11:18 am IST

Printing of new Rs 200 denomination notes is likely to start after June when the Modi government gives its assent.

RBI governor Urjit Patel.
 RBI governor Urjit Patel.

Mumbai: Banking regulator the Reserve Bank of India has given its nod to printing of new Rs 200 notes, according to a report in DNA. The central bank expects printing of new notes would start after the month of June later this year.

An RBI report while citing two sources close to the development said that the Central Board of RBI has already approved the proposal. The proposal was okayed in March and printing of new Rs 200 denomination notes is likely to start after June when the Modi government gives its assent.

The RBI Central Board consists of 14 members, including governor Urjit Patel, Economic Affairs Secretary Shaktikanta Das, Financial Services Secretary Anjuly Chib Duggal, and four deputy governors of the central bank.

RBI started to introduce new high value notes in the banking system after over 86 per cent of total currency in circulation were scrapped through demonetisation, a massive anti-black money and anti-counterfeiting measure.

Tags: rbi, reserve bank, note ban, rs 200 notes, demonetisation, remonetisation
Location: India, Maharashtra, Mumbai (Bombay)